This website is for Private Investors* only

*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

Obtains access to the information in a personal capacity;

Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;

Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;

Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;

Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;

Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.

Banking

Energy Producers

Engineering

Mining

Economy

Market Report

Companies

Currencies

HICL consortium selected to operate Watney offshore transmission link

HICL Infrastructure Company announced on Thursday that Diamond Transmission Partners - a consortium comprising the firm - as well as Mitsubishi subsidiary Diamond Transmission Corporation and Chubu Electric Power have been selected by Ofgem as the preferred bidder to own and operate the Walney Extension Offshore Wind Farm offshore transmission link.

159.83

14:33 21/03/19

19,327.31

14:36 21/03/19

4,073.24

14:32 21/03/19

4,017.41

14:32 21/03/19

0.60%

23.91

The FTSE 250 company explained that the offshore transmission owner regime covered regulated assets where the offshore transmission owner took ownership of an operational transmission asset, and received contractual, availability-based revenues over a 20-year period.

It said the offshore transmission owner did not have exposure to construction risk, electricity production or power price risk.

“The Walney offshore transmission owner represents the fourth successful bid by the partnership of HICL and Diamond Transmission Corporation, the others being the Burbo Bank Extension OFTO which has reached financial close, and the Race Bank OFTO and the Galloper OFTO where Diamond Transmission Partners have previously been selected as preferred bidder, in June and November 2018 respectively,” the HICL board said in his statement.

“The consideration for HICL's 40% share of the economic interest in the Walney OFTO is expected to be approximately £23m.”

HICL said completion of the acquisition was expected towards the end of the calendar year.